HighVista Strategies LLC Purchases 1,232 Shares of Madrigal Pharmaceuticals, Inc. $MDGL

HighVista Strategies LLC boosted its holdings in shares of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) by 53.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,537 shares of the biopharmaceutical company’s stock after buying an additional 1,232 shares during the period. HighVista Strategies LLC’s holdings in Madrigal Pharmaceuticals were worth $1,622,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Baker BROS. Advisors LP lifted its position in shares of Madrigal Pharmaceuticals by 8.4% during the third quarter. Baker BROS. Advisors LP now owns 2,141,701 shares of the biopharmaceutical company’s stock worth $982,313,000 after purchasing an additional 165,683 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Madrigal Pharmaceuticals by 17.6% in the third quarter. William Blair Investment Management LLC now owns 411,802 shares of the biopharmaceutical company’s stock valued at $188,877,000 after purchasing an additional 61,513 shares in the last quarter. Wellington Management Group LLP raised its position in Madrigal Pharmaceuticals by 5,381.2% in the 3rd quarter. Wellington Management Group LLP now owns 404,455 shares of the biopharmaceutical company’s stock worth $185,507,000 after purchasing an additional 397,076 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Madrigal Pharmaceuticals by 96.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 376,163 shares of the biopharmaceutical company’s stock worth $113,842,000 after buying an additional 184,554 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Madrigal Pharmaceuticals by 49.5% in the 3rd quarter. Invesco Ltd. now owns 299,565 shares of the biopharmaceutical company’s stock valued at $137,398,000 after buying an additional 99,209 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Madrigal Pharmaceuticals

In other news, Director Paul A. Friedman sold 24,520 shares of Madrigal Pharmaceuticals stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $522.39, for a total value of $12,809,002.80. Following the completion of the transaction, the director owned 187,164 shares of the company’s stock, valued at $97,772,601.96. This trade represents a 11.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mardi Dier sold 1,982 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $430.87, for a total transaction of $853,984.34. Following the completion of the sale, the chief financial officer directly owned 12,490 shares in the company, valued at approximately $5,381,566.30. The trade was a 13.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 55,612 shares of company stock valued at $28,326,065 in the last 90 days. Company insiders own 21.50% of the company’s stock.

Analyst Ratings Changes

MDGL has been the topic of several research reports. TD Cowen reaffirmed a “buy” rating on shares of Madrigal Pharmaceuticals in a research note on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Madrigal Pharmaceuticals in a research report on Thursday, January 22nd. Barclays began coverage on Madrigal Pharmaceuticals in a report on Tuesday, January 27th. They set an “overweight” rating and a $964.00 price objective for the company. Zacks Research raised shares of Madrigal Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Finally, Truist Financial raised their target price on shares of Madrigal Pharmaceuticals from $580.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $685.31.

Madrigal Pharmaceuticals Trading Up 1.4%

MDGL opened at $444.83 on Monday. The firm’s fifty day moving average is $477.62 and its two-hundred day moving average is $488.83. The firm has a market cap of $10.20 billion, a PE ratio of -34.56 and a beta of -0.97. Madrigal Pharmaceuticals, Inc. has a twelve month low of $265.00 and a twelve month high of $615.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.77 and a current ratio of 4.01.

Madrigal Pharmaceuticals (NASDAQ:MDGL) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($2.61). The firm had revenue of $321.08 million during the quarter, compared to analyst estimates of $310.36 million. Madrigal Pharmaceuticals had a negative net margin of 30.08% and a negative return on equity of 43.76%. Madrigal Pharmaceuticals’s quarterly revenue was up 210.8% on a year-over-year basis. During the same period last year, the firm earned ($2.71) EPS. Equities research analysts anticipate that Madrigal Pharmaceuticals, Inc. will post -23.47 EPS for the current year.

Madrigal Pharmaceuticals Profile

Madrigal Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the development of innovative therapies for cardiovascular, metabolic and liver diseases. The company’s pipeline centers on novel, liver-directed agents designed to address significant unmet medical needs, with an emphasis on nonalcoholic steatohepatitis (NASH) and related metabolic disorders.

The lead product candidate, resmetirom (MGL-3196), is an orally administered, selective thyroid hormone receptor-β agonist in Phase 3 development for the treatment of NASH.